A 24-year-old professional has shared an inspiring savings journey on Reddit, revealing how careful planning and disciplined budgeting have helped him accumulate ₹2 lakh towards his goal of buying a house. Currently earning a salary of ₹29,000 per month, he has also managed to build a robust financial foundation while supporting his lower-middle-class family.
Early Savings and Milestones
He explained, “During my internship, I saved the entire stipend and built an emergency fund of ₹1L, which is currently in an FD earning 7%. As of this month, I’ve managed to save an additional ₹2L towards my house goal.” Despite contributing a portion of his income to his parents’ savings, he feels proud of reaching this milestone, noting that his family never had much savings growing up.
Balancing Family Support and Personal Goals
“My parents don’t know that I’ve saved this much (they never ask either), but I’m proud of how far I’ve come. My next goal is to get health insurance for them starting next month, before I continue with more savings,” he added.
Currently, he allocates his monthly income as follows: ₹10,000 for personal savings, ₹10,000 for parents, ₹3,000 towards SIP in mutual funds (50% Nifty 50, 50% Small Cap), ₹1,500 for term life insurance, ₹2,000 for personal and fixed monthly expenses, and ₹2,500 previously used for unplanned expenses, which will now be redirected to a health insurance premium.
Financial experts say that his approach—balancing short-term goals like health insurance with long-term aspirations such as home ownership—is key to building wealth, especially for young professionals in India.
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